Nvidia is Now The Second-Largest Company in The US Market


Island Hopper

Nvidia's stock surged over 5% to a record high, surpassing Apple to become the second-most-valuable company in the US stock market, with a market cap above $3 trillion.

The company's rally was driven by a broader gain in tech stocks, softer US economic data, and a decline in Treasury yields, with investor enthusiasm in AI fueling Nvidia's stock, which has soared over 140% this year and 200% over the last year.

Nvidia announced plans to release high-powered versions of its Blackwell and Rubin chips in the coming years, solidifying its position as the tech industry's go-to supplier for AI chips and integrated software, despite growing competition from companies like AMD and Intel.

Shares of Nvidia (NVDA) climbed more 5% on Wednesday, reaching a record high of $1,224.40 and giving the company a market cap above $3 trillion for the first time ever.

The stock's advance pushed Nvidia past Apple, making it the second-most-valuable company in the US stock market. Microsoft currently holds the top spot.

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